Holly Ferguson | Albin, Randall and Bennett

NCUA Issues Annual Letter to Credit Unions for 2020

On January 7, 2020, the National Credit Union Administration (NCUA) issued its annual letter to credit unions. The 2020 letter discusses supervisory priorities in preparing for NCUA examinations and statutory and regulatory updates. Supervisory Priorities for 2020 Bank Secrecy Act (BSA) and Anti-Money-Laundering (AML) Compliance – There are numerous improvement efforts in the works for


FASB Delays Effective Date for CECL

We have been closely following as the complex legislative journey of CECL unfolds. When the CECL method was initially introduced, the Financial Accounting Standards Board (FASB) outlined a timeline for implementation, but after comments from the industry, the FASB realized additional time was needed to analyze the standard and review calculation options, thus adjusting the


DOL Announced Final Rule on Overtime

Which employees of your business qualify for time and a half? It’s time to reevaluate that question, namely at the executive, administrative, and professional levels. The threshold for exemption has changed. On September 24, 2019, the U.S. Department of Labor (DOL) announced a final rule on overtime. Effective January 1, 2020, the DOL estimates 1.3